Tudor Investment Corp ET AL Makes New Investment in Tilray Brands, Inc. $TLRY

Key Points

• Tudor Investment Corp opened a new position in Tilray Brands in Q3, buying 299,398 shares worth about $518,000, representing roughly 0.27% of the company at quarter-end.
• Tilray posted a Q1 quarter EPS of ($0.24), missing estimates and showing a negative net margin, while the stock trades around $6.95 with a market cap near $810 million and a 52-week range of $3.51–$23.20.
• Analyst coverage is mixed (three Buy, four Hold, one Sell) with a consensus rating of Hold and a $11.50 target, and institutional investors own about 9.35% of the shares.

Tudor Investment Corp ET AL purchased a new position in Tilray Brands, Inc. (NASDAQ:TLRY - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 299,398 shares of the company's stock, valued at approximately $518,000. Tudor Investment Corp ET AL owned about 0.27% of Tilray Brands at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Silverlake Wealth Management LLC purchased a new stake in shares of Tilray Brands in the 3rd quarter valued at approximately $25,000. Oppenheimer & Co. Inc. purchased a new stake in Tilray Brands during the 3rd quarter worth approximately $25,000. Unified Investment Management purchased a new stake in Tilray Brands during the 3rd quarter worth approximately $26,000. Y Intercept Hong Kong Ltd purchased a new stake in Tilray Brands during the 3rd quarter worth approximately $30,000. Finally, HighPoint Advisor Group LLC purchased a new stake in Tilray Brands during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

Tilray Brands Trading Up 0.6%

NASDAQ TLRY opened at $6.95 on Thursday. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. Tilray Brands, Inc. has a 52 week low of $3.51 and a 52 week high of $23.20. The stock has a market capitalization of $810.02 million, a PE ratio of -0.51 and a beta of 2.00. The firm has a 50 day moving average of $7.08 and a two-hundred day moving average of $9.87.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The firm had revenue of $206.73 million for the quarter, compared to analyst estimates of $201.35 million. During the same quarter last year, the firm earned ($0.87) EPS. As a group, research analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Tilray Brands in a research note on Tuesday, January 27th. They set a "hold" rating on the stock. TD Cowen cut their target price on shares of Tilray Brands from $10.00 to $7.00 and set a "buy" rating on the stock in a research note on Monday, March 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Zacks Research raised shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 11th. Finally, Roth Mkm raised shares of Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 target price on the stock in a research note on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tilray Brands has a consensus rating of "Hold" and a consensus target price of $11.50.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray's product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.

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